Sunday, April 1, 2018

1st Quarter 2018

Market sales volumes softness continues down over 40% year over year and 10% if you were to compare it to the first quarter of 2016 during more normal times.

Gone are the days of sizzling multipe Offers and homes and condo's take 20% longer to sell.

Thankfully, foerign buyer interest has returned somewhat, however, many Seller's are still having to reduced their asking prices in order to get sold.

The average price for a detached 2-storey home was $1421000 a drop of 6% year over year.

Many buyer's have enough product to choose from the 626 properties for sale.  2/3's of those cost a million dollars or more with the cheapest property, a condo apartment asking $320000.  Most areas/streets in Oakville would be consider to be in a buyer's market.  The most sought-after addresses can of course buck that trend.

The rental market was active with 155 transactions ranging from $1100/mth basement apt to an $8500/mth executive home.  There is reasonable choice still available with 115 for lease ranging from $1550 for a small condo apartment to $17900/mth for an estate property.